OVERALL BEARISH BUT YOU CAN BE ON BULLISH TOMORROW
1.Here we can see cup and & handle pattern which is a bullish pattern.
2.Tomorrow on 17/3/2021 market me open gap/up
as what i can see is sgx nifty has closed in green. also we can expect market to close in green tomorrow becoz if we move to daily time frame we can see a 3 red candles and today's candle has just closed at support indicating tomorrow market will be bullish.
3.overall trend of the market is still bearish but as per the technical analysis we can expect a small green candle.
4.Levels to note:
A.market may open gapup at level 34950
levels and can give a slight retracement and if
we are lucky it will feel the gap but what i
think it wont fill gap tomorrow, it will give
slight retracment and breakout upto levels
35370 levels after that we can expect market
to fall.
5.But question arises why there will be no bearish momentum tomorrow right?
so the answer is since 18/3/2021 is thursday 2 days from today. We can't expect high volatility before 12-1pm tomorrow in market as technical says itself. Q4 results are coming seems like banks are not performing well.
-SHIVAM MISHRA
MGB
2.Tomorrow on 17/3/2021 market me open gap/up
as what i can see is sgx nifty has closed in green. also we can expect market to close in green tomorrow becoz if we move to daily time frame we can see a 3 red candles and today's candle has just closed at support indicating tomorrow market will be bullish.
3.overall trend of the market is still bearish but as per the technical analysis we can expect a small green candle.
4.Levels to note:
A.market may open gapup at level 34950
levels and can give a slight retracement and if
we are lucky it will feel the gap but what i
think it wont fill gap tomorrow, it will give
slight retracment and breakout upto levels
35370 levels after that we can expect market
to fall.
5.But question arises why there will be no bearish momentum tomorrow right?
so the answer is since 18/3/2021 is thursday 2 days from today. We can't expect high volatility before 12-1pm tomorrow in market as technical says itself. Q4 results are coming seems like banks are not performing well.
-SHIVAM MISHRA
MGB
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